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☆ Third Point slashes key megacap tech holdings, but snatches up shares of this Magnificent 7 name
▼ + stars: | 2024-11-14 | by ( Samantha Subin | ) www.cnbc.com time to read: +2 min

Third Point slashed and dissolved its stakes in some key megacap technology holdings, while opening a fresh position in Tesla during the third quarter. Regulatory filings released Thursday revealed that the Dan Loeb-run hedge fund opened a stake worth roughly $105 million in the electric vehicle behemoth during the period. Tesla shares rallied more than 32% during the period, and they have surged more than 24% in November as investors bet that the company will benefit from CEO Elon Musk's close relationship with President-elect Donald Trump . MSFT YTD mountain Apple shares this year Beyond these key Magnificent Seven players, Loeb liquidated positions in both Verizon Communications and ridesharing giant Uber Technologies . Along with Tesla, Loeb revealed a new position in Brookfield Corp worth about $251 million and fresh stakes in Flutter Entertainment and CVS Health .

Persons: Dan Loeb, Elon Musk's, Donald Trump, Tesla, Loeb Organizations: Tesla, Microsoft, Meta, Apple, Verizon Communications, Uber Technologies, Brookfield Corp, CVS Health, Intercontinental Exchange Locations: China

Trading in Origin Energy shares was paused on Thursday. Brookfield Corp (BN.TO), which has teamed up with EIG Partner's MidOcean Energy, and Origin Energy did not respond to requests for comment. Origin shares closed on Wednesday at A$8.42, up 1.69%, but well below the offer price of A$9.43 per share. If everyone thought it was going ahead the share price would be higher," he told Reuters. Origin shares remain 2.1% lower than last week's close and have traded well below the offer price since the new bid.

Persons: Dado Ruvic, EIG, Jamie Hannah, I'm, Scott Murdoch, Lewis Jackson, Miral Fahmy Organizations: Brookfield, REUTERS, Rights, Origin Energy, Brookfield Corp, Energy, Investors, Newmont Corp, Newcrest Mining, VanEck, Reuters, Origin, Thomson Locations: Brookfield, Lincoln

REUTERS/Dado Ruvic/Illustration/File Photo Acquire Licensing RightsSYDNEY, Nov 23 (Reuters) - A Brookfield-led consortium's A$16.3 billion ($10.61 billion) bid for Origin Energy (ORG.AX) is expected to fail after the largest shareholder in Australia's biggest energy retailer said it would vote against the offer at an investor meeting on Thursday. The energy company's shares closed on Wednesday at A$8.42, up 1.69%, but well below the offer price of A$9.43 per share. If everyone thought it was going ahead the share price would be higher," he told Reuters. Brookfield and Origin Energy declined to comment on Thursday's vote. Origin shares remain 2.1% lower than last week's close and have traded well below the offer price since the new bid arrived, suggesting investors were pessimistic of its success.

Persons: Dado Ruvic, EIG, Jamie Hannah, I'm, Macquarie, Ian Myles, Scott Murdoch, Lewis Jackson, Miral Organizations: Brookfield, REUTERS, Rights, Origin Energy, Newmont Corp, Newcrest Mining, Brookfield Corp, Energy, VanEck, Reuters, Thomson Locations: Brookfield, Sydney

☆ Origin Energy shares surge after regulator clears Brookfield's $9.8 bln bid
▼ + stars: | 2023-10-09 | by ( Scott Murdoch | トムソンロイター | Scott Murdoch Has Been A Journalist For More Than Two Decades Working For Thomson Reuters | ) www.reuters.com time to read: +4 min

Australian Super, the largest investor, raised its stake to 14% last month and called the shares undervalued. Perpetual, a major Australian fund manager and Origin shareholder, has pushed Brookfield and its partner, U.S. private equity firm EIG, to consider raising their offer to win Origin, according to local media reports. Origin shares jumped to A$9.19 in early trading, well above the A$8.91 per share price of the consortium bid lodged in March, on speculation a higher offer could be forthcoming. Under the consortium deal, Origin will be broken up into two businesses, with its energy markets arm including its electricity generation and electricity and gas retail businesses to be acquired by Brookfield. Brookfield would also be prohibited from selling more than 10% of either Origin or AusNet in the future to one party.

Persons: Dado Ruvic, Max Vickerson, I'm, Vickerson, Newmont, Gina Cass, Gottlieb, Brookfield, Scott Murdoch, Jamie Freed 私 Organizations: Brookfield, REUTERS, SYDNEY, Origin Energy, Brookfield Corp, Australian Competition, Consumer Commission, stockbroker Morgans, Perpetual, Newcrest Mining, Energy, ACCC, AusNet Services Locations: Australian, Brookfield, Australia, Victoria

☆ SocGen and Brookfield to launch private debt fund
▼ + stars: | 2023-09-11 | by ( ) www.reuters.com time to read: 1 min

The logo of Societe Generale bank is pictured on an office building in Nantes, France, March 16, 2023. REUTERS/Stephane Mahe/file photo Acquire Licensing RightsPARIS, Sept 11 (Reuters) - French lender Societe Generale (SOGN.PA) and asset manager Brookfield Corp (BN.TO) plan to launch a private debt fund targeting total volume of 10 billion euros ($10.73 billion) over the next four years, they announced on Monday. Initial seed funding, which will be directed towards the power, transportation and finance sectors among others, amounts to 2.5 billion euros, the companies said. The fund "will have a positive impact on the real economy", SocGen Chief Executive Slawomir Krupa said in a press release. ($1 = 0.9319 euros)Reporting by Tassilo Hummel Editing by David GoodmanOur Standards: The Thomson Reuters Trust Principles.

Persons: Stephane Mahe, Slawomir Krupa, Tassilo Hummel, David Goodman Organizations: Societe Generale, REUTERS, Rights, Brookfield Corp, SocGen, Thomson Locations: Nantes, France

☆ Investment giant Brookfield is shuttering its $1 billion multi-strategy hedge fund
▼ + stars: | 2023-07-27 | by ( Alex Morrell | ) www.businessinsider.com time to read: +1 min

Investment giant Brookfield is closing its hedge fund group BHS Advisors. The multi-strategy fund launched in 2019 and managed $1.3 billion in assets earlier this year. Canadian asset management behemoth Brookfield Corporation is shutting down its multi-strategy hedge fund Brookfield Hedge Solutions Advisors. BHS Advisors, a multi-strategy hedge fund platform within the $825 billion conglomerate, is winding down after four years, according to people familiar with the matter. In recent years billions in capital have flooded into multi-strategy hedge funds like Citadel, Millennium, and Point72, which employ teams of traders across a variety of strategies.

Organizations: BHS Advisors, behemoth, Solutions, Brookfield, Intelligence, Citadel, BHS, Financial Times Locations: Brookfield

"Weakness continues to develop in commercial real estate office," Wells Fargo Chief Executive Charlie Scharf said on a call with analysts. Stress in the commercial real estate sector could have broad implications for banks and the economy, as losses emanating there can tighten credit availability and exacerbate a downturn. More than $1.4 trillion in U.S. CRE loans will mature by 2027, with some $270 billion coming due this year, according to real estate data provider Trepp. As the epicenter for the technology industry downturn, California's CRE market has been hit hard. Citigroup and Wells Fargo declined to comment for this article.

☆ Australia's HMC Capital to buy hospitals from U.S. firm for $802 mln
▼ + stars: | 2023-03-29 | by ( ) www.reuters.com time to read: +2 min

March 30 (Reuters) - Australian asset manager HMC Capital Ltd (HMC.AX) said on Thursday it will buy 11 private hospitals from U.S.-based Medical Properties Trust (MPW.N) for A$1.20 billion ($802.08 million). The hospitals are currently managed by Brookfield Corp's (BN.TO) Healthscope, the second-largest private hospital operator in Australia. Additionally, HMC Capital will raise A$123 million to fund the transaction. "This acquisition transforms HCW into Australia's largest diversified healthcare REIT with greater exposure to critical healthcare infrastructure in Australia's major capital cities," said HMC Capital CEO David Di Pilla. HMC Capital is a Sydney-based asset manager founded and backed by banker-turned-investor David Di Pilla.

Both Goldman and Fitch did not specify which small lenders were most vulnerable. The total exposure of the U.S. banking system to CRE loans was $2.5 trillion at the end of December, Fitch said. HEADWINDSThe CRE market faces headwinds that could hobble small banks. Rising interest rates have also depressed demand for CRE loans, while weighing on real estate investment trusts (REITs). Goldman's Viswanathan cited several indicators that reflected a weakening market for office real estate: declining occupancy rates, falling appraisal values and rising defaults.

☆ TSX set to commence week slightly higher
▼ + stars: | 2023-03-20 | by ( ) www.reuters.com time to read: +2 min

March 20(Reuters) - Futures for Canada's main stock index edged higher on Monday, aided by gains in the prices of safe-haven assets like bullion, as investors returned to markets plagued by uncertainty in the global financial sector. March futures on the S&P/TSX index , which tracks commodity prices, were up 0.3% at 7:10 a.m. Later in the week, investors also await February domestic consumer inflation data and January retail sales data. The Toronto Stock Exchange's S&P/TSX composite index (.GSPTSE) ended 0.7% down on Friday and hit its lowest weekly levels this year, weighed down by financials. ET, while S&P 500 e-minis were up 2.25 points, or 0.06%, and Nasdaq 100 e-minis were up 2.5 points, or 0.02%.

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